Oracle 1z0-962 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1z0-962
Exam Name/Title: Oracle Financials Cloud: Receivables 2017 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud Receivables 2017

Exam Questions: 80
Updated On: Jul 13, 2026

Question #9

Identify the receivables system option that relates to customers.

A. Receipt Method

B. Reciprocal Customer

C. Automatic Site Numbering

D. Default Country

Discussion 0

Correct Answer: A,D Vote an answer

Question #10

The process of remitting receipts to a bank results in fund transfer errors.
Identify three corrective actions to resolve this. (Choose three.)

A. change of instrument

B. receipt reversal

C. clearing payment information

D. debit memo reversal

E. credit reversal

Discussion 0

Correct Answer: A,B,C Vote an answer

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Question #11

A Billing Specialist has created and completed an invoice for $100 USD for Customer A.
The Specialist prints the invoice and realizes that the invoice should have been created for Customer B.
The accounting for the transaction for Customer A is posted to the General Ledger.
How can this be corrected?

A. Create an on-account credit memo for $100 USD for the invoice and enter a new invoice for Customer B.

B. Create an adjustment for the entire amount and create a negative adjustment for Customer B.

C. Navigate to the credit transaction link in the Billing work area, credit the entire amount, and enter a new invoice for Customer B.

D. Change the status of the invoice to Incomplete and enter a new invoice for Customer B.

Discussion 0

Correct Answer: B Vote an answer

Question #12

A customer calls the Accounts Receivables department and asks for the balance of all invoices that are due in the next 30 days. The customer also has a question about a specific invoice line.
As a Billing Specialist, which action would you take?

A. Create an open debit memo.

B. Apply, reverse, or process the receipt.

C. Search for the information in the Review Customer Account Details user interface.

D. Search for open invoices on the Manage Transaction search page.

Discussion 0

Correct Answer: C Vote an answer

Question #13

Identify two values that default from Customer Profile Classes. (Choose two.)

A. Tax

B. Payment Terms

C. Business Purpose

D. Legal Entity

E. Statement Cycle

Discussion 0

Correct Answer: A,B Vote an answer

Question #14

You have created two transactions with a 30-day payment term. The first transaction is on January 29, 2015 and the second transaction is on January 31, 2015. The invoice date is the same as the system date. Both transactions are assigned an unsigned receipt method that has the lead days set to 60, number of bills receivable rule set to one per customer, and the bills receivable maturity date rule set to latest.
Which statement is true when the create bills receivable batch is processed for a customer on January 31, 2015?

A. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.

B. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.

C. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.

D. Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015.

E. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.

F. Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.

Discussion 0

Correct Answer: B Vote an answer

Question #15

You are not able to initiate a bankruptcy request at the customer site level on behalf of a customer.
Which two conditions are failing? (Choose two.)

A. The customer does not have the default strategy and default collector assigned at the customer account and site level.

B. Bankruptcy must be applied at the customer level, which includes all transactions at the customer, account, and Site levels.

C. Preferences must be enabled and Enable Bankruptcy must be set to Yes for the customer.

D. The Collections Manager creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should be configured as a resource.

E. The Collections Administrator creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should have the Collection Manager and Customer Profile Administrator roles assigned.

F. Preferences must be enabled and Enable Bankruptcy must be set to Yes in Manage Collections Preferences in the Functional Setup Manager for Advanced Collections.

Discussion 0

Correct Answer: E,F Vote an answer

Question #16

When you move revenue on an invoice line from an unearned account to an earned revenue account, Receivables ______________.

A. removes the pending sales credits

B. leaves the invoice line revenue contingencies until Automatic Revenue Recognition is run

C. leaves the invoice line revenue contingencies until Reconcile Revenue Contingencies is run

D. removes the invoice line revenue contingencies

Discussion 0

Correct Answer: D Vote an answer

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